Has Chance The Rapper Saved Soundcloud?

Soundcloud has been going through some financial troubles lately – so much so that it was supposed to shut down within about two months. The company recently laid off 40% of its workers, and for the past few years has ended with deficits. In 2014, Soundcloud reported a loss of $44 million. In 2015, the company reported a loss of $52 million.

With losses like this, it doesn’t surprise that the company is struggling to stay afloat. The company began a subscription service, Soundcloud Go, in 2016 with hopes of offsetting some of their troubles. The service allows for listening offline and without ads, as well as a few other perks.

Still, despite founders Alex Ljung and Eric Wahlforss denial that the company was going under, it looked like the company was nearing its final days. That is, until this morning.

Earlier today Chance the Rapper took to Twitter to announce that Soundcloud will not go out of business. “Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay,” Chance wrote.

Just had a very fruitful call with Alex Ljung. @SoundCloud is here to stay.

— Lil Chano From 79th (@chancetherapper) July 14, 2017

While it is not yet clear what went down in that conversation or what the two talked about, perhaps it permissible to assume that the streaming service has figured out a way to fix its problems. Was Chance the Rapper a part of that? We do not know. All can really hope for now is that Soundcloud really is here to stay.